Canada Business Corporations Act
Marginal note:Shareholder immunity
45 (1) The shareholders of a corporation are not, as shareholders, liable for any liability, act or default of the corporation except under subsection 38(4), 118(4) or (5), 146(5) or 226(4) or (5).
Marginal note:Lien on shares
(2) Subject to subsection 49(8), the articles may provide that the corporation has a lien on a share registered in the name of a shareholder or the shareholder’s personal representative for a debt of that shareholder to the corporation, including an amount unpaid in respect of a share issued by a body corporate on the date it was continued under this Act.
Marginal note:Enforcement of lien
(3) A corporation may enforce a lien referred to in subsection (2) in accordance with its by-laws.
- R.S., 1985, c. C-44, s. 45
- 2001, c. 14, s. 27
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